PHOENIX–(BUSINESS WIRE)–Money problems can wreak havoc on relationships, especially for couples
with vastly different upbringings or clashing spending habits. A
Citibank survey recently revealed 57 percent of divorced couples cited
financial issues as the reason for ending the relationship. The good
news is that a few simple strategies can help resolve money conflicts.

“Many people enter relationships without discussing their attitudes
toward money,” said Mike Sullivan, a personal finance consultant with
Take Charge America, a national
nonprofit credit counseling and debt management agency. “It’s not
particularly fun or romantic, but open and honest communication about
finances will go a long way in fostering a happy, healthy relationship.”

Sullivan offers eight tips for couples seeking financial bliss:

Honesty. Before committing to a relationship, commit to being
honest about your finances, even if it requires a difficult
conversation with your significant other. Don’t hide purchases, keep
secret credit cards or cover up your debt.

Financial philosophies. One of you may have dined with a silver
spoon, while the other always scrimped and saved. Talk through your
attitudes toward money, and establish mutual ground rules for areas
that could present problems.

Combining finances. Decide together if it’s best to combine
your finances or keep your money separate. There is no one right way –
it completely depends on individual preferences and life circumstances.

Roles and responsibilities. From doctor’s bills and mortgage
payments to cell phones and car insurance, there are lots of financial
responsibilities to juggle. Determine who will be responsible for
what, at which times. Post a schedule if necessary.

Monthly budgets. The heart of any financial plan, creating a
budget and sticking to it will strengthen your finances and your
relationship.

Spending limits. Agree to consult one another before making a
purchase that exceeds predetermined limits.

Debt repayment. A 2015 study by Pew Charitable Trusts found
eight out of 10 Americans carry some form of debt. Work with your
partner to create a debt repayment strategy, and celebrate milestones
together.

Financial goals. Saving money isn’t exciting without a goal in
mind. Set goals that inspire you both, like having children, buying a
house, saving up for a dream vacation or getting out of debt. Lean on
one another for accountability.